• Lower your monthly payments
  • Reduce stress and live your life
  • Avoid personal bankruptcy court

Help! Debt Settlement Gave Me A Low Credit Score!


In the past I have talked about Debt Settlement as a “Debt Cure” for your credit card debt problems. And for some people it is. But before you decide on this course of action, be aware that using debt negotiation with your creditors to get a good settlement offer can result in your FICO credit score dropping a few hundred points.

If you are scared of ruining your credit to get out of debt, then maybe debt consolidation is better for you.

Take a look at what has happened to my credit score over the past 6-8 months since I started a do it yourself debt settlement program:

Good FICO Credit Score Before Debt Settlement

Above is my FICO credit score before I missed payments on my credit cards due to a severe financial hardship. And below is what my credit score looks like now after I have settled with 3 out of 4 creditors.

Bad FICO Credit Score After Debt Settlement

Debt settlement has ruined my credit score!

Are you worried about keeping your credit score high? Have you seen all the commercials about how you need to maintain a high credit score to keep your insurance rates low, your credit card rates low, and your chances of getting a job?

I’ve even posted some of those on this blog. And if you are not going through a sudden job loss or unexpected medical bill then you may not need a drastic debt solution as debt settlement. And debt consolidation may be all you need.

Now here’s something else I want to show you:

My credit card debt before debt settlement: $61,713.xx

And here is how much credit card debt I have now after settling with 3 creditors and getting a balance reduction with a 4th:


I settled $43,250 settled for $13,054 and reduced a 4th balance from $10,160 to $7778.

I kept one card out of the program which I needed to pay for living expenses and business expenses and this has a balance of around $8300.

I am still not out of my severe financial hardship but eliminating over $43,000 in credit card debt in 6 months will go a long way towards helping me recover.

That cuts my monthly expenses by over $860 a month based on the 2% balance monthly minimum payment.

Would an extra $860 a month help improve your financial situation?

And now that I have $43,000 less in credit card debt, I am able to work faster on rebuilding my credit score. I can start making my payments on time again.

My debt to income ratio is a lot lower now.

In a couple short years I will have a healthy credit score again and will qualify for a low rate mortgage loan or car loan or even a credit card.

Debt settlement is not for everyone. If you have a small amount of credit card debt then it is not worth ruining your credit score over.

Get help from friends and family, consolidate your debts, stop charging, read the Total Money Makeover, heck, read Debt Cures I and II, and get out of debt.

I am just sharing with you my experiences and hope this can help you decide on if do it yourself debt settlement is the choice for you.

Talk to you again soon.

If you have any feedback, comments, or experiences let me know in the comments box below.

Thank you,


Debt Cures Reviews

How To Consolidate Credit Card Debt Even With Bad Credit Without A Debt Consolidation Loan

When you think of debt consolidation usually you think of getting a new loan to consolidate all your bills and then making just one payment a month.  But what if you have bad credit?  How can you qualify for a low rate debt consolidation loan?  You will not be able to save much money if any because the interest rate will be similar or possibly even higher than what you are currently paying on your different credit cards.  So how can you get out of debt?

If you have bad credit and you still want to consolidate your debt then there is still hope available.  Care One Credit Counseling is one of the best debt consolidation companies around and does not lend money.  They can help you lower your interest rates, reduce your monthly payment, waive late fees, and eliminate debt collection calls.  Best of all they do not make debt consolidation loans.  So they can help you if you have bad or horrible credit.  You can talk to them for free and see how much you can save with their debt consolidation plans.

Why would you want to get a debt consolidation loan in the first place?  You are already overextended on your current available credit so you do not need any more.  Using a program from Care One Credit Counseling is a better option.  And their plans are very affordable.  The monthly fee varies by state but it is in line with other credit counseling programs.  And when you compare it against the monthly interest charges of a debt consolidation loan it makes even more sense.

While I still believe debt settlement is the best way to eliminate your credit card debt if you are struggling with your bills, many people are still wary of using this option because of all the scams out there and it is understandable.  Debt consolidation is the next best plan.  Get a free debt consolidation quote from Care One Credit Counseling and see how much you can save.


Debt Cures Reviews

And speaking of Debt Cures and Kevin Trudeau, Debt Cures 2 has been released and it is on all the late night infomercials again along with Kevin’s other book, Free Money, and I will be reviewing these once I get ahold of my copies. Kevin is taking 3-5 weeks to ship the books even though you pay $12.00 shipping and handling for each one.  I don’t feel like paying an extra $10.00 for rush shipping and handling. So when I get my copies of Debt Cures 2 and Kevin’s Free Money I will start posting the reviews of his latest books.

Debt Consolidation vs Debt Settlement vs Debt Management

With the many ways there are to get out of debt it can sometimes be hard to choose which way is right for you. Whichever way you choose you’re looking to do the same thing you’re trying to lower your monthly credit card payments, you’re trying to reduce your interest rates if possible, you’re trying to waive late fees and other fees the banks try to throw on you, you’d love to eliminate the collection calls early in the morning and late at night, you want to avoid bankruptcy at all costs, and most importantly you want to be debt free.

To start with let’s talk about debt consolidation. Debt consolidation, you get all your bills and consolidate them into one single payment. You do not have to get a debt consolidation loan to use this method. In many cases you are able to lower your monthly payments, reduce your interest rates, and get rid of the annoying that collection calls.

Learn from more than 166000 people how they got out of debt

You also have Christian debt consolidation which is similar to debt consolidation their also incorporates Christian values to help you pay off your debt.

Next, let’s talk about debt settlement. This process allows you to negotiate with your creditors and reduce your outstanding balances by up to 40 to 60%. The goal is to have you debt free in less than 36 months. This is two years sooner than a Chapter 13 bankruptcy. Debt settlement is an alternative to bankruptcy. The effects to your credit report and credit score are similar except that bankruptcy is in the public record whereas debt settlement is not.

Free Help With Debt Problems

Finally you have debt management. This involves getting debt assistance from a credit counseling company through a payment plan with your creditors that can reduce your interest rates and reduce or possibly waive some late fees. This is called a debt management plan or DMP.

So which one should you go with? Again since we are talking several thousand dollars worth of debt it is not an easy decision to make. Whichever method you choose can affect your financial life for several years to come in good ways and in bad.

I’ve recently partnered with debt consolidation care, an online get out of debt community that offers a free debt counseling session to analyze your financial problems and see which method would work best for your situation. They have helped over 169,000 people pay off their debt. You can talk to them for free and get a customized solution for you. They can help you with these debt cures.

Free debt counseling with DebtConsolidationCare

Talk to you soon,


Debt Cures Reviews

Debt Cures – Eliminate All Your Debt Problems In 12-18 Months


Talk about Debt Cures, how would you like to be free from credit card debt in 12 to 18 months? Take a moment to read this post and you can see how it is possible.

Here’s why you want to read this. You can drastically cut down the years you will be paying on your credit card companies. If you are struggling to make the minimum payments, you can be paying on the same debts for 20 years or more. You will not be able to get ahead in life – no saving for college, no saving for retirement, no saving to even go on a vacation.

Here’s what you can get from using debt settlement and debt negotiation and why you want to use the resource I recommend. The creator of the Zipdebt program was an industry insider and helped start several debt settlement companies. He used to work helping people like you settle their debts and would get paid on how much he saved his clients.

Nowadays most of the debt settlement companies charge you their fees upfront and do not base their fees on how much they save you.

So Charles Phelan decided to teach his system and tell people how they could save thousands of dollars in fees by settling their debts themselves. He has helped thousands of clients save millions of dollars over the years.

Here’s how debt negotiation and debt settlement work. Once you start falling behind on your credit card payments, your credit card companies will be more willing to deal with you and offer you a settlement to cover the entire balance you owe.

Here is the simplified step by step process.

You put money into a settlement fund away from your regular checking or savings account. These are the payments you normally send to your credit card companies.

You wait until the banks are ready to make a deal with you, it can take 3 to 6 months.

You settle your debts for a fraction of what you owed.

You get out of debt.

You may be skeptical about all this and that is perfectly normal. But what if it all works? What if it is possible to settle your credit card debts and eliminate all your debt problems in 12 to 18 months?

What if you could be debt free?

What if you took a chance and took this course and it worked? You would save thousands of dollars in wasted money on interest charges and you would actually have some money left over in your account at the end of the month. Wouldn’t that be a great feeling?

Get Zipdebt now and get rid of all your credit card debt problems.

If you wait to act on this the chances are you will never do it and you will be stuck in debt for another 10 to 20 years struggling to get by.

Do it now and become debt free.

Thank you for reading,


P.S. Eliminate all your debts. This is one of the best Debt Cures I have learned about since starting this site. You owe it to yourself to check it out.